Webster Financial Corporation (WBS) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Webster Financial Corporation (NYSE:WBS) from a hold rating to a sell rating in a research note released on Saturday.

Several other analysts also recently commented on WBS. Jefferies Group LLC set a $53.00 price objective on Webster Financial Corporation and gave the stock a hold rating in a research note on Saturday, May 6th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $55.00 price objective on shares of Webster Financial Corporation in a research note on Monday, April 10th. Zacks Investment Research cut Webster Financial Corporation from a buy rating to a hold rating in a report on Wednesday, March 8th. Finally, Barclays PLC increased their target price on Webster Financial Corporation from $50.00 to $52.00 and gave the stock an equal weight rating in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $48.94.

Shares of Webster Financial Corporation (NYSE WBS) traded down 0.73% on Friday, hitting $50.13. The stock had a trading volume of 9,318,879 shares. The firm has a 50 day moving average price of $50.87 and a 200 day moving average price of $52.27. The company has a market capitalization of $4.62 billion, a P/E ratio of 21.89 and a beta of 1.27. Webster Financial Corporation has a one year low of $31.29 and a one year high of $57.50.

Webster Financial Corporation (NYSE:WBS) last issued its quarterly earnings data on Friday, April 21st. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The business had revenue of $255.70 million for the quarter, compared to the consensus estimate of $254.48 million. Webster Financial Corporation had a return on equity of 9.16% and a net margin of 19.88%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. On average, equities research analysts predict that Webster Financial Corporation will post $2.47 earnings per share for the current fiscal year.

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In related news, Director Laurence C. Morse sold 4,971 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $51.88, for a total value of $257,895.48. Following the completion of the sale, the director now directly owns 28,210 shares in the company, valued at approximately $1,463,534.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Joseph Crawford sold 2,753 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $53.30, for a total transaction of $146,734.90. Following the completion of the sale, the director now owns 7,752 shares of the company’s stock, valued at $413,181.60. The disclosure for this sale can be found here. Insiders sold a total of 26,214 shares of company stock valued at $1,364,548 over the last quarter. 2.20% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of Webster Financial Corporation by 0.3% in the first quarter. Retirement Systems of Alabama now owns 118,793 shares of the financial services provider’s stock valued at $5,944,000 after buying an additional 342 shares during the period. FMR LLC increased its stake in shares of Webster Financial Corporation by 0.6% in the fourth quarter. FMR LLC now owns 10,289 shares of the financial services provider’s stock valued at $558,000 after buying an additional 65 shares during the period. Stifel Financial Corp increased its stake in shares of Webster Financial Corporation by 14.9% in the first quarter. Stifel Financial Corp now owns 82,507 shares of the financial services provider’s stock valued at $4,128,000 after buying an additional 10,673 shares during the period. Teachers Advisors LLC increased its stake in shares of Webster Financial Corporation by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 150,305 shares of the financial services provider’s stock valued at $8,159,000 after buying an additional 6,887 shares during the period. Finally, Norges Bank purchased a new stake in shares of Webster Financial Corporation during the fourth quarter valued at about $37,949,000. Institutional investors and hedge funds own 97.97% of the company’s stock.

About Webster Financial Corporation

Webster Financial Corporation is a bank and financial holding company. The Company’s segments include Commercial Banking, Community Banking, HSA Bank, Private Banking, and Corporate and Reconciling. The Commercial Banking segment includes middle-market, asset-based lending, commercial real estate, equipment finance, and treasury and payment solutions, which includes government and institutional banking.

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